BP is the second major company to suggest it is not interested in the IPO, following Russian Lukoil, which made a similar statement earlier this month.

That leaves Exxon Mobil and China’s Sinopec as the remaining potential contenders, but still in the realm of rumor.

The IPO is a way for Saudi Arabia to raise funds in the prevailing low oil price atmosphere, with Saudi Aramco likely to be valued at over $2 trillion, and the 5 percent could raise around $100-$150 billion.

Saudi Aramco is highly profitable and controls vast swaths of lucrative resources, but only a portion of those assets will be up for sale. The country’s oil reserves are unlikely to be included in the IPO. Instead the IPO will probably be for a subsidiary, which includes downstream assets of Saudi Aramco.

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Good luck with making that 2T fund Saudi's. Your IPO will barely cover 1 year of spending for your country, unless you want to slash handouts and anger your entire population. I'm sure all the money you're throwing at non-energy projects will all turn into huge money makers too. Lots of history to suggest that governments are great at picking winners in projects and turning profits *sarcasm*.

mchentrp on June 18 2016 said:

After totally screwing the rest of the oil sector to include bringing some whole countries to the point of financial meltdown, the Saudis now want investors to pull their chestnuts out of the the fire by investing billions for a pittance. Time aramco gets hoist on its own pitard! Call for a worldwide boycott.

David Hrivnak on June 19 2016 said:

Another great reason to drive an electric vehicle. We now have 44,000 miles of gasoline free miles. It is even better when we make our own power via rooftop solar.

spinner on June 20 2016 said:

The company has no long term future due to increasing EV sales and it's main asset is stuck under the ground in one of the most volatile regions of world, wow what a "unique" investment opportunity.

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